NetEase Inc. Has $65.28 Million Stake in AppLovin Co. (NASDAQ:APP)

NetEase Inc. decreased its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 74.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 500,000 shares of the company's stock after selling 1,443,257 shares during the period. AppLovin accounts for 84.4% of NetEase Inc.'s investment portfolio, making the stock its largest position. NetEase Inc. owned about 0.15% of AppLovin worth $65,275,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its stake in AppLovin by 33.5% in the 1st quarter. SG Americas Securities LLC now owns 4,100 shares of the company's stock worth $284,000 after purchasing an additional 1,028 shares in the last quarter. US Bancorp DE lifted its stake in AppLovin by 45.1% in the 1st quarter. US Bancorp DE now owns 11,172 shares of the company's stock worth $773,000 after purchasing an additional 3,472 shares in the last quarter. Bleakley Financial Group LLC purchased a new stake in AppLovin in the 1st quarter worth approximately $258,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in AppLovin in the 1st quarter worth approximately $343,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in AppLovin by 9,470.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company's stock worth $17,336,000 after purchasing an additional 248,022 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

Insider Transactions at AppLovin

In related news, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now directly owns 1,017,388 shares of the company's stock, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 14,166 shares of the firm's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the sale, the insider now owns 352,616 shares of the company's stock, valued at approximately $31,728,387.68. This represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 235,542 shares of company stock valued at $32,012,275. Company insiders own 14.69% of the company's stock.

Analyst Ratings Changes

APP has been the topic of a number of research analyst reports. Bank of America increased their price target on shares of AppLovin from $100.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. Wells Fargo & Company initiated coverage on shares of AppLovin in a report on Monday, October 28th. They issued an "overweight" rating and a $200.00 price target on the stock. Oppenheimer increased their price target on shares of AppLovin from $180.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Daiwa America raised shares of AppLovin from a "hold" rating to a "strong-buy" rating in a report on Friday, November 8th. Finally, Loop Capital increased their price target on shares of AppLovin from $181.00 to $385.00 and gave the stock a "buy" rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $194.31.

AppLovin Trading Up 2.3 %

Shares of NASDAQ:APP traded up $6.60 on Friday, hitting $291.09. The company had a trading volume of 24,367,480 shares, compared to its average volume of 5,581,456. The firm's 50-day simple moving average is $159.14 and its two-hundred day simple moving average is $109.11. AppLovin Co. has a 1 year low of $35.79 and a 1 year high of $302.55. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $97.69 billion, a price-to-earnings ratio of 88.21, a P/E/G ratio of 3.58 and a beta of 1.86.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same period last year, the company posted $0.30 EPS. The company's quarterly revenue was up 38.6% compared to the same quarter last year. Equities analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.